This would be a second consecutive year that Vietnam’s economy expands over 7%, while low inflation makes such economic growth more significant.

Favorable conditions in 2020 are expected to help facilitate the elevation of Vietnam’s stock market classification from a “Frontier Market” market to an “Emerging Market” by MSCI.

This is the second consecutive year that Vietnam’s economy expands over 7%, following a 10-year high GDP growth of 7.08% in 2018.

Vietnam’s economic growth continues to be driven by the resilient foreign sector and robust domestic consumption.

The growth rate is significantly lower than the 6.8% growth rate recorded in the first quarter of 2019.